The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-08-31
CONDITION OFTHE MARKETS
Wheat FluctuatesW Within a Narrow Mar
gin and Shows Signs Of Weakness.
Heavy Selling of Corn Results in Giving the
Market Bearish Tone--Oats Dull and
Heavy-ProvisiOn Strong and Higher.
MONEY, BONDS AND STOCKS.
The "E5ears" Obtain Control and Decline /

The "Bears" Obtain Control and Decline in
All Securities Follows.
NEW YORK. Aug 3c.-Money call was
easy at to per cent. the last loan being
made at 6 per cent, closing offered at L.
Prime mercantile paper, g. a 0 per cent
Sterling exchange was dull but steady at
s4SOt for sixty-day bills and s. s3s for demand.
The total sales of stocks to-day were 292, APT
shares, including the following: Delaware,
Lackawanna g. Western, 5000; Erie, 7.175;
Lake Shore, 13 075; Louisville g. Nashville, 12,-
B5O; Missouri Pacific, 5,745; Northwestern,
1910; New York Central. .935; Northern Pacific,
preferred. 1882; Oregon Sc Transcontuental,
7,110 Reading, s1,0l0; ST. Paul. 23,462; Union
Pacific, Il. 42o; Western Union. $40.
The "bears" again obtained control OF the
stock market to-day, and especially in the after
noon hammered the list with disastrous effect.
The hopeful feeling existing during the past
few days seemed to have disappeared this morn
ing and there q marked absence OF support
Of any kind throughout the day. There was no
buying of any influence and London turned sell
Ter at the opening. Erie first becoming notice
able under sales for that account Vague ru-
mors of a depressing character were circu-
lated and the heavy failure in Philadelphia
added to the growing distrust The
''bears" then attacked the market and sue
ceeded IN uncovering some stop orders, when
Manhattan suddenly began 10 sell OH very rap
idly, when the room traders jumped upon 1t and
broke its price over ten points from the first SALE
Many stories in regard to the stock were adoat.
but the decline generally attributed to
forced liquidation of "long" account. The
coal stocks. Changers. Missouri Pacific and New
England were most prominent in the decline.
special pressure being again brought against
Reading. aad its decline in the last two hours
was quite rapid. The opening was quiet and
heavy at declines from yesterdays final figures
heavy and slowly dropped under the
leadership OF Erie at first, and later New Eng
land. Business became veay dull after noon,
but after / o'clock the break in Manhattan oc-
Cured, which started the decline in the general
list again, and the last hour was marked by
unusual activity. with decided weakness through
out the entire list The close was active and
weak at the lowest figures reached. Every
thing on the active list is lower and Manhattan
lost 102; Jersey Central. 3; Missouri Pacific, 81
Reading and Lake Erie 81 Western preferred
Omaha. 2t; Pacific Mail and Oregon Navigation,
Erie preferred, Richmond 81 West Point and
Union Pacific. Il; Erie, IL; Texas Pacific, IL; St
Paul. II, and Western Union Il.
There no i'm provement in railroad bonds;
Sales $3.50, 600. Prices were weak throughout,
in sympathy with stocks, and closing figures
almost invariably lower. Chesapeake e Ohio
extension tours lost 3, at 68; Indiana, Blooming
ton e. Western first certificates, 2, at So. the
second certificates Al, at 70; Mexican Central
tours. g. at 65; Texas Pacific income trust
receipts. 2 at As; Wabash Re of 1872 3, at 80,
and Colorado Coal 6s, a, at 953
Government bonds dull but firm, es-
specially the four-and-a halls.
State bonds were dull and steady. Closing
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